PR Newswire: Shell And Penske Forge The Future Of Transport Alliances
HOUSTON, Feb. 24, 2017 /PRNewswire/ — Shell and Penske Corporation announced today a multi-year continuation of their ongoing business, technical and motorsport alliance. As part of the agreement, Shell and Pennzoil will continue sponsoring Team Penske entries in the Monster Energy NASCAR Cup Series and the Verizon IndyCar Series through the 2022 season and beyond. Shell and Pennzoil will also continue to be the preferred supplier of fuels, lubricants and related products to the Penske organization.
Argentina’s state-run oil company YPF SA said it reached a preliminary deal with Royal Dutch Shell Plc on Thursday to develop oil and gas assets in the Vaca Muerta shale field, involving a $300 million investment from Shell.
Both companies will take a 50 percent stake in the Bajada de Añelo field to develop a pilot program, which will be operated by Shell, YPF said in a statement. The agreement is subject to approval by provincial authorities, and Shell’s investment will come in two phases, YPF said.
CSP: Shell Edges Closer to Full Indoor EMV Deployment
Jackson Lewis: February 23, 2017
HOUSTON — More than 11,000 Shell-branded retail sites—or nearly 80%—are now fully indoor compliant with the Europay, MasterCard and Visa (EMV) payment standard, with the remainder expected to meet indoor compliance by spring 2017, Shell Oil Co. has announced.
As indoor EMV deployment nears completion, Shell looks to reach outdoor EMV compliance by the October 2020 liability shift date, and is moving forward with a pilot program planned for late 2017. The company said it plans to announce more details of its outdoor EMV program in second-quarter 2017.
The Huffington Post: Boss Of Royal Dutch Shell In The UK Describes Trump’s Clean Energy Stance As ‘Disappointing’
George Bowden: Reporter, The Huffington Post UK
The boss of Shell in the UK has labelled President Donald Trump’s stance on new, cleaner forms of energy as “disappointing”.
Asked whether Trump had cast doubt the need for a global transition to green energy, Sinead Lynch, country chair of Shell in Britain, told The Huffington Post UK: “It’s disappointing. Obviously what we really want is a collaboration and alignment across all governments internationally, regionally, locally.”
As part of a renewed on focus on fossil fuels Trump’s administration has promised to open new coal mines, deleted references to climate change from White House websites, and pledged to scrap Barack Obama’s 2013 climate pact.
by Jess Shankleman
22 February 2017, 14:23 GMT
Royal Dutch Shell Plc may contract to build offshore wind farms in the U.K. and across Europe, after winning a bid to build one of the cheapest projects on record last year, Shell U.K. chair Sinead Lynch, said in an interview.
Europe’s biggest oil supplier is exploring opportunities across Europe for offshore wind, Lynch said at a press event on Wednesday at a Shell service station outside London, where she was opening the company’s first U.K. hydrogen refueling station.
By Craig Trudell , Yuki Hagiwara , and John Lippert
20 February 2017, 20:30 GMT: 21 February 2017, 00:21 GMT
Royal Dutch Shell Plc will build seven fueling stations for hydrogen cars in California through a partnership with Toyota Motor Corp., laying down their latest bet on the demise of the internal-combustion engine.
The stations will nudge the state closer to its goal of having 100 retail sites by 2024 where hydrogen fuel-cell vehicles can fill up. The California Energy Commission is considering $16.4 million in grants toward the stations, with Shell and Toyota contributing $11.4 million.
The Telegraph: Shell defies doubters by predicting boom for liquefied natural gas
Jillian Ambrose: 20 FEBRUARY 2017
Royal Dutch Shell has brushed off concern that the burgeoning market for liquefied natural gas is already oversupplied, after paying £36.5bn to buy market leader BG Group.
Shell’s first outlook report for LNG since the tie-up has predicted a market boom as demand from countries including China and India which will outpace the string of new project start-ups.
The market for LNG imports has already grown considerably in recent years but market commentators have raised fears that an explosion of new projects might flood the market. A deluge of LNG could push down prices just as Shell works to pay down the heavy cost of the tie-up.
Shell says new LNG buyers want shorter, smaller contracts
By Reuters: 20 February 2017
LONDON, Feb 20 (Reuters) – Royal Dutch Shell, the world’s biggest liquefied natural gas (LNG) trader following its takeover of BG Group last year, said new LNG customers that will drive demand are looking for shorter and smaller contracts.
Shell expects much of new LNG demand to come from countries that want to replace declining domestic gas production — which has already happened in Egypt and Pakistan — and those countries that are looking at LNG to complement pipeline and domestically produced gas, like China or Morocco.
Laura Hurst and Javier Blas: 20 February 2017
The giant tankers anchored along the Scottish coast in the Firth of Forth weren’t going anywhere. They were just providing floating storage because there was no demand for their cargo, North Sea crude oil.
But the flickering computer screens in the world’s trading rooms told a different story. Prices through the month of April were jumping, showing someone was buying, stunning traders and leaving some with heavy losses. That wasn’t the only bizarre gyration last year in the market for Brent, whose price determines the cost of just about every petroleum-based product, from jet fuel to plastic spoons. Such unusual moves damaged confidence so much that some traders retreated from the market.
February 17, 2017
CALGARY, Alberta (Reuters) – Kineticor, a small privately held power producer, has partnered with one of Canada’s largest pension funds to buy a half-finished oil sands power plant in northern Alberta that was part of an abandoned Royal Dutch Shell (RDSa.L) project, the company said on Friday.
Alberta-based Kineticor said it had closed the acquisition of the partially constructed 690 megawatt cogeneration plant near Peace River that was part of Shell’s 80,000 barrel per day Carmon Creek project.
Written by Jeremy Cresswell – 17/02/2017 7:39 am
After roughly two years steering the unit through huge changes against a background of the third major oil price storm to rock the North Sea, Paul Goodfellow is taking on a new challenge as Shell’s executive vice president wells based at Rijkswijk in the Netherlands from April 1.
Assuming command in Aberdeen is Steve Phimister, who has for the past year been UK “transition lead” for the integration of BG Group’s business into Shell following the successful £36billion takeover completed early last year.
Written by Energy Reporter – 16/02/2017 6:02 am
Kuala Lumpur Regional Centre for Arbitration awarded MISC $254.4million in its ruling.
MISC had filed an arbitration proceeding against Sabah Shell in September last year. The firm sought resolution of contractual disputes covering claims for outstanding additional lease rates, payment for completed variation works and other associated costs.
“This adjudication decision is expected to have a positive impact on the earnings per share, gearing and net assets per share of MISC for the financial year ending 31 December 2017 onwards,” MISC said.
Posted by Mark Young:15 Feb 2017
Norway’s oil and gas powerhouse Statoil ASA has finalised its exit from the Canadian oilsands and is by no means alone in a list of high-profile internationally-based operators to agree a sale of Canadian upstream assets during the past 12 months.
Statoil (Oslo:STL) is selling its interest in the Kai Kos Denseh project to Athabasca Oil Corp. (TSX:ATH) for an initial Cdn$578 million. Analysis of this transaction can be found here.
Other significant sales agreed upon in 2016 by non-Canadian companies include:
Royal Dutch Shell (RDSa.L) said it received notice on Tuesday of a request for indictment related to a 2011 settlement of long-standing disputes over an offshore block in Nigeria (OPL 245) .
The tribunal of Milan has fixed the preliminary hearing for 20 April 2017, the company said in a statement. “We don’t believe a request for indictment is justified and we are confident that this will be determined in the next stages of the proceedings. We continue to take this matter seriously and co-operate with the authorities,” Shell added. Shell and Eni on Tuesday said they have asked a Nigerian court to lift a temporary forfeiture of assets and the transfer of operations of the OPL 245 field owned by Shell and Italy’s Eni (ENI.MI), among others, to the federal government.
By The Motley Fool Feb 15, 2017
Last year’s surprise OPEC and non-OPEC oil production cuts were supposed to herald a new area of higher energy prices, but it hasn’t really happened. Oil bulls who predicted oil could hit $60 or $70 a barrel will have been disappointed, with the price stalling around $55. If the price can’t rise now, when will it rise? Or could it even crash?
Any further slippage would spell bad news for FTSE 100 giants (LSE: BP) and Royal Dutch Shell(LSE: RDSB). They are banking on a higher oil price to keep the cash flowing, and ensure their dividends are sustainable in the longer run.
By Irina Slav – Feb 14, 2017, 12:46 PM CST
Shell’s Nigerian subsidiary has committed US$1 billion for the development of the Niger Delta, the Vice President of the federal government, Yemi Osinbajo, said. Osinbajo is on a tour in the Delta, aiming to appease through dialogue the militant groups that have crippled Nigeria’s oil industry over the last couple of years.
The money will be released in US$500-million annual installments, to be used to provide clean drinking water, conduct health impact assessments, and supply “remediation technologies” to local communities, who tried to sue Shell for failure to clean up an oil spill in the area. The case was heard by the London High Court, which ruled that it is outside its jurisdiction: Shell Petroleum Development Company is registered in Nigeria, so a Nigerian court should be the one to hear the case.
Reuters: Shell and ENI ask Nigerian court to lift forfeiture on oilfield: documents
By Camillus Eboh
ABUJA, Feb 14 (Reuters) – Oil majors Royal Dutch Shell (LSE: 0LN9.L – news) and ENI (LSE: 0N9S.L – news) have asked a Nigerian court to lift a temporary forfeiture of a long-disputed oilfield, a copy of the court documents filed by the two firms showed on Tuesday.
Last month, a Nigerian court ordered the temporary forfeiture of assets and the transfer of operations of the OPL 245 field owned by Shell (LSE: RDSB.L – news) and Eni, among others, to the federal government.
Premium Times: Nigeria: Malabu $1.1 Billion Fraud – Shell, Eni Want Nigeria’s Richest Oil Block Back
Although Shell and ENI have repeatedly claimed they did not know the money was going to end up with Malabu, investigations in Nigeria and Italy as well as leaked documents revealed that claim to be false.
14 February 2017
By Evelyn Okakwu
Two multinational oil firms have challenged the propriety of the Nigerian government withdrawing a major oil block from them.
Shell and Eni, through their Nigerian subsidiaries, asked a Federal High Court to reverse an order that revoked the award of OPL 245 to them.
Justice John Tsoho of the Federal High Court had on January 26 granted an interim order directing the return of the block – Nigeria’s richest, estimated to contain over 9 billion barrels of crude – to the Nigerian government,
14 FEB 2017
Abuja – Shell Nigeria Exploration and Nigeria Agip Exploration have asked the Federal High Court, Abuja, to discharge the order of forfeiture of OPL 245 which it granted the Economic and Financial Crimes Commission (EFCC).
Justice John Tsoho on Jan. 26, granted an order of interim forfeiture of Oil Prospecting Licence (OPL 245) to the Federal Government pending investigation and prosecution of suspects in the $1.1 billion Malabu Oil scam.
At the resumed hearing of the matter on Tuesday, the prosecuting counsel, Mr Johnson Ojogbane, informed the court that he was unable to respond to the two applications filed by the the applicants on the matter.
The Motley Fool: 3 big questions hanging over Royal Dutch Shell plc
By The Motley Fool Feb 14, 2017
A stagnating oil price has seen investor appetite for Royal Dutch Shell(LSE: RDSB) seep away from recent multi-year highs.
The crude colossus saw its share price strike its highest since November 2014 a month ago, but fresh fundamental fears have seen Shell — like many of its London-quoted peers — retrace more recently.
Shale producers returning
Arguably the biggest driver behind Shell’s decline has been a steady build in the US rig count.
With drillers across the Atlantic becoming ever-more-comfortable with oil prices anchored around the $50 per barrel mark, the number of units in operation has been steadily increasing since the autumn.
Shell, Eni hit with Nigerian oil deal corruption charges
Joe Sandler Clarke / Energydesk: 13th February 2017
Weeks after a major legal victory in London’s High Court over oil-polluted communities in Nigeria, writes Joe Sandler Clarke, Shell has suffered a dramatic reversal of fortunes as Italian prosecutors charge the company, and Italy’s Eni, on corruption charges over a $1.3 billion oil deal.
Italian prosecutors have charged oil giants Shell and Eni with international corruption offences, as the companies struggle with the fallout from their controversial 2011 purchase of an oil licence in Nigeria.
Timesonline.com: Opposing views need to be heard
The Times: Serving Beaver County, PA since 1874
By The Times Editorial Board
When Beaver County Commissioners Sandie Egley and Daniel Camp addressed a packed house Tuesday morning at the annual State of the County breakfast, the main topic on everyone’s mind was the Shell Chemicals Co. ethane cracker plant to be built in Potter Township.
Egley, when asked to describe the state of the county in one word, chose “exciting,” noting that everyone in the room knew what she meant.
Camp went with “radar,” saying that “Beaver County is on everybody’s radar” and that the area is going to become “the next up and coming place to raise a family.”
The Motley Fool: Why I believe Royal Dutch Shell plc’s dividend looks safe despite falling profits
Rupert Hargreaves | Monday, 13 February 2017
For much of the past three years, investors have continually questioned the sustainability of the Royal Dutch Shell (LSE: RDSB) dividend payout as the price of oil has languished.
Indeed, as the price of oil has fallen to its lowest level in over a decade, Shell has been paying out more than it can realistically afford to investors, filling the gap between income and spending with debt. For example, during 2015 the company paid a total dividend of $9.4bn to investors even though free cash flow after capital expenditure was only $4bn. Last year, including capital spending and the dividend, the company spent $10bn more than cash generated from operations.
Euronews/Reuters: Rio Tinto recruits three energy executives to board, including Simon Henry
By Karolin Schaps: REUTERS 10/02/201
LONDON (Reuters) – Rio Tinto has appointed three former senior managers from the energy industry to its board as non-executive directors, including Shell’s departing CFO Simon Henry, the mining company said on Friday.
Henry, who is stepping down as Chief Financial Officer at Shell after seven years on March 9, will join Rio Tinto on July 1. Former Centrica chief executive Sam Laidlaw and ex-Sasol CEO David Constable will take up their non-executive posts immediately, Rio Tinto said.
INVEZZ.Com: Group under fire over plans to abandon North Sea structures
Oil major sets out case for leaving concrete legs of Brent oil platforms
by Tsveta Zikolova: Thursday, 09 Feb 2017
Royal Dutch Shell (LON:RDSA) has come under fire over its plans to decommission the Brent oil and gas field in the North Sea. The move would see the company leave several structures in place, with the oil major arguing that removing them would be risky as well as costly.
The Financial Times reported yesterday that environmental groups had accused Shell of cutting corners to save costs as a public consultation began on the biggest decommissioning project of its kind in the oil industry. The Anglo-Dutch oil major said yesterday that it had submitted plans to the UK government which include removing the upper parts of the group’s four Brent platforms in the North Sea. The company, however, wants to leave behind the concrete legs, as well as 64 subsea storage tanks, and drill cuttings contaminated with oil.
OilVoice.com: Shell – Public consultation begins on Brent oil and gas field decommissioning programme
Posted by OilVoice Press: 09-Feb-2017
An extended 60-day public consultation on recommendations to decommission the Brent oil and gas field in the North Sea has begun today following submission by Shell U.K. Limited (“Shell”), the field’s operator, of a comprehensive decommissioning programme to the Department for Business, Energy and Industrial Strategy (BEIS). The field, located 115 miles north-east of the Shetland Islands has produced around three billion barrels of oil equivalent since production commenced in 1976, which is almost 10% of UK production.
Royal Dutch Shell are likely to take their time over the Brent decommissioning process due to the controversial fallout from a previous disposal attempt, according to one industry analyst.
The energy giant hit the headlines back in 1995 when it first floated plans to dispose of the Brent Spar holding and loading platform by sinking it in the deep waters of the Atlantic.
After getting wind of the plans, environmental group Greenpeace mounted a large-scale media campaign against the dumping of the Shell-owned oil and tanker loading buoy.
Protesters managed to occupy the installation for nearly three weeks before being evicted.
Shell later said the Brent Spar had become of “symbolic significance out of all proportion to its environmental effect”.
REUTERS: Italy prosecutors ask Eni CEO to be sent to trial over Nigeria – sources
Wed Feb 8, 2017 | 6:36pm GMT
Italian prosecutors have asked for the CEO of state-controlled oil major Eni (ENI.MI), Claudio Descalzi, to stand trial over alleged corruption in Nigeria, judicial sources said on Wednesday.
The prosecutors also asked for 10 other people, including former Eni CEO Paolo Scaroni, to be sent for trial along with the Eni and Royal Dutch Shell (RDSa.L) companies, the sources said.
Scaroni was not immediately available for comment. No comment was immediately available from Shell.
INDEPENDENT: Shell launches bid to leave massive, sludgy oil rig remnants in North Sea for 500 years
‘Oil and gas companies operating in the North Sea have a legal, as well as moral, obligation to clean-up their mess,’ says leading environmentalist
Ian Johnston Environment Correspondent: 8 Feb 2017
Oil giant Shell is to launch a bid to leave the 10 vast concrete legs of three oil rigs standing in the North Sea for up to 500 years after the platforms have been decommissioned.
The company’s proposals also include the controversial suggestion that oil mixed with sediment in 42 out of 64 concrete storage cells – each up to 20 metres in diameter and 60 metres high, taller than Nelson’s Column – should remain on the sea bed.
The decommissioning of the historic Brent field, created during the 1970s boom, represents the Government’s first big decision on what will happen to the main North Sea installations as they stop producing oil.
The Telegraph: Shell’s Brent plans to spark North Sea jobs boost
Royal Dutch Shell is to recommit itself to the North Sea as it prepares to dismantle the colossal oil rigs in the historic Brent oilfield, heralding hopes of hundreds of decommissioning jobs.
The oil major will today submit its decommissioning plans to the Department for Business, Energy and Industrial Strategy – including a controversial plan to leave the base of the four giant structures in the sea bed – ending a decade-long project on how to safely retire the ageing field.
Shell CEO: Our goal is to be number one again 17 Hours Ago | 05:35
Royal Dutch Shell may have seen its profits slammed thanks to low oil prices, but its CEO told CNBC on Tuesday that the company’s strategy isn’t reliant on a certain oil price outcome.
“We have to be competitive, rather, at every oil price level, and that means that we have to continue to work on reducing our breakeven price of the company, making sure that we have a competitive sense of projects with a low breakeven price per project so that every point in the price cycle we are competitive,” Ben van Beurden said in an interview with “Closing Bell.”
The oil-trading boom that cushioned the profits of Royal Dutch Shell Plc and BP Plc through the price slump of 2015 and early 2016 is over.
BP said on Tuesday it made a “small” loss trading oil in the fourth quarter, while Shell last week said trading profits “flattened” in late 2016. The fall off in trading contributed to worse-than-expected fourth-quarter profits at Europe’s largest oil and gas producers.
Although better known for their oilfields, refineries and gas stations, Shell and BP are the world’s top energy traders, handling about 20 percent of global oil demand between them and dwarfing independent trading houses such as Vitol Group BV, Trafigura Group and Glencore Plc.
Mon Feb 6, 2017
HOUSTON Shell Oil Co, the U.S. unit of Royal Dutch Shell Plc, said on Monday it expects to divide the refineries and other assets of the Motiva Enterprises [MOTIV.UL] joint venture with co-owner Saudi Aramco in the second quarter of 2017.
“We are pleased with the progress we have made to date, and anticipate completion of the transaction in Q2 2017,” Shell spokesman Ray Fisher said in an email. “The April 1 date is a target that the internal project teams are working toward.”
By Ron Bousso and Clara Denina | LONDON
Royal Dutch Shell is seeking to sell its stake in the Danish Underground Consortium (DUC), an offshore oil and gas joint venture, in what would mark the company’s effective exit from Denmark, three banking sources said.
The stake is valued at up to $1 billion, according to two sources.
Bank of America Merrill Lynch (BAML) is running the sale process, the sources said.
Shell owns a 36.8 percent stake in DUC alongside operator A.P. Moller-Maersk, which has 31.2 percent, Chevron which holds 12 percent, and Danish state-run Nordsøfonden which has a 20 percent stake.
Emily Gosden, Energy Editor:
Royal Dutch Shell’s chief financial officer has criticised rules requiring old oil and gas platforms to be removed from the North Sea, claiming that they will result in taxpayers “spending money unnecessarily”.
Simon Henry said that regulations enshrined in the international Ospar convention should be reviewed because they “could actually create more of an environmental issue by disturbing certain things in the removal process” and should be reviewed.
Adam Vaughan Energy correspondent
Monday 6 February 2017 07.01 GMT
When the company proposed sinking the Spar oil storage buoy in 1995, it prompted protests by Greenpeace, petrol boycotts in Germany and a falling share price. Shell was eventually forced to back down and find a more environmentally-friendly plan.
Valerie Flynn: Sunday February 5, 2017
An official audit has criticised Mayo county council’s management of an €8.5m fund provided by Shell for the benefit of the local community near the Corrib gas pipeline.
The council allocated €451,000 of the fund to itself, with allocations made by “evaluation boards that were either entirely made up of staff from Mayo county council, or the majority of members on the evaluation board were from Mayo county council”, the local government auditor said.
MATT CHAMBERS: Resources reporter Melbourne 4 Feb 2017
Shell Australia chairman Andrew Smith has been promoted to lead the oil major’s global trading business and will be replaced in April by the oil giant’s Canadian-based head of oil sands and former Rio Tinto executive Zoe Yujnovich.
Mr Smith, who has been at the helm of Shell Australia since 2013, has been promoted to lead Shell’s Singapore-based trading and supply business as executive vice- president.
During Mr Smith’s tenure, Shell has become the biggest producer of Australian LNG thanks to the Gorgon project in which it has a non-operating stake, and the acquisition of BG Group. Mr Smith played a key role in the deal.
MATT CHAMBERS Resources reporter: Melbourne4 Feb 2017
Anglo-Dutch oil giant Shell is looking to invest in Australian solar plants that can switch to gas when needed to deliver baseload power supply as debate rages over renewable energy security in the wake of South Australia’s crippling power outages.
Shell, which is Australia’s biggest LNG exporter and one of the world’s largest oil companies, has revealed that Australia was one of three global locations, along with Oman and Brunei, where it was studying pairing renewable energy with gas, after last year flagging “new energies” would be a potential major source of growth for the fossil fuel company beyond 2020.
Shell playing long game with Prelude FLNG
2017-2018 startup date will coincide with LNG glut
By Sally Bogle
3 February 2017
Analysts say the Prelude FLNG facility will be used to boost Shell’s global LNG sales portfolio, rather than to target specific Asian customers, and that it will reap long-term gains for the company despite its 2017-2018 startup date coinciding with a glut of LNG supply.
One of Australia’s last remaining sanctioned greenfield LNG projects yet to be commissioned, Prelude will add to Shell’s stakes in other Australian projects – the North West Shelf, Gorgon, QCLNG and the planned Browse project – and become a strategic resource with which to exploit remote gas fields around the world.
Shell preparing to relaunch V-Power fuel – Forecourt Trader
By John Wood: 2 Feb 2017
Shell UK is preparing to launch the lastest version of its premium fuel V-Power in the spring. The new fuel, which features ‘Dynaflex technology’ will be…
Written by Lindsay Razaq, Westminster Correspondent – 03/02/2017 7:03 am
Shell boss Ben van Beurden today urged against looking at the North Sea with “nostalgia” – insisting plans to sell off assets in the basin do not signal the end of the energy giant’s involvement.
The chief executive conceded the company was streamlining its portfolio.
But he stressed the exit of larger firms from mature positions was positive from a North Sea perspective.
He also said it would give the sector a “new lease of life”.
By Ron Bousso | LONDON
Royal Dutch Shell (RDSa.L) and Anadarko Petroleum (APC.N) are renegotiating their five-year-old joint venture in the Permian shale basin in Texas, Shell Chief Financial Officer Simon Henry said on Thursday.
The 50-50 JV in the Delaware basin, which expires this year, will likely see the operatorship of the asset “consolidated in a different way”, Henry said in an earnings presentation to analysts.
Henry also said that Shell’s position in the Haynesville basin to the east of the Permian, which it acquired through its takeover of BG Group last year, “won’t necessarily stay in our portfolio.”
Shell eyes investments in Alberta’s shale plays as oilsands turn into ‘cash engine, not a growth engine’
Jesse Snyder | February 2, 2017 7:49 PM ET
Royal Dutch Shell Plc said Thursday it will reduce capital expenditures in 2017 for the third straight year, while also outlining plans to boost production at one of its light oil assets in southern Alberta.
During a quarterly conference call with analysts, the Netherlands-based company laid out plans to invest in its liquids-rich Fox Creek, Alta., assets as part of a broader US$2-to- $3-billion strategy targeting its highest-return shale plays.
Targets and victims of British undercover police operations in Ireland speak out, demand answers and action
— Shell to Sea supports Jason Kirpatrick and other Core Participants in UCPI/Pitchford Inquiry —
A press event jointly organised by Jason Kirkpatrick and Shell to Sea is scheduled for Buswell’s Hotel on Monday 06 February from 11.00am to 1pm.
Jason Kirkpatrick was a victim in Ireland of British undercover officer Mark Kennedy. Mr. Kirkpatrick is a former Deputy Mayor from Arcata, California, and is a “Core Participant” in the Undercover Policing Inquiry (UCPI) which covers England and Wales.
By Tsvetana Paraskova – Feb 02, 2017, 3:03 PM CST
Royal Dutch Shell (NYSE:RDS.A) is making “significant progress” on selling another US$5 billion worth of assets, chief financial officer Simon Henry said on Thursday after the oil supermajor reported 2016 profits below analyst expectations.
Shell’s current cost of supplies (CCS) – a key measure comparable with net income – came in at US$1.8 billion, excluding identified items, compared with US$1.6 billion for the fourth quarter 2015, the company said today. Full-year 2016 CCS earnings attributable to shareholders excluding identified items dropped to US$7.2 billion from US$11.4 billion in 2015.
By Daniel J. Graeber: Feb. 2, 2017
(UPI) — Royal Dutch Shell continues to focus on an aggressive divestment strategy after cutting $15 billion from its books last year, its CEO said Thursday.
“We are gaining momentum on divestments, with some $15 billion completed in 2016, announced, or in progress, and we are on track to complete our overall $30 billion divestment program as planned,” CEO Ben van Beurden said in a statement.
The Dutch supermajor, trimmed down after a merger last year with British energy company BG Group, reported an 8 percent decline in profit last year for one of its weakest performances in more than a decade.
Royal Dutch Shell (RDSa.L) is close to selling assets totaling $5 billion to cut debt following its acquisition of BG Group, the oil major said on Thursday as it reported its lowest full-year earnings in more than a decade.
Dealmaking in the oil and gas sector has been muted for more than two years due to collapsing oil prices, but as crude prices recover buyers and sellers are starting to agree on price tags.
For Shell, disposals of $3 billion in the fourth quarter helped shave $4.5 billion off its net debt and increase cashflow by 8 percent in the last three months of the year, Europe’s largest oil and gas company said.
Oil major Royal Dutch Shell posted fourth-quarter earnings of $1.0 billion, compared with $1.8 billion for the same quarter a year ago.
Ben van Beurden, chief executive officer of Royal Dutch Shell, said that such earnings figures do not “look good” for investors but he is “very pleased” with the performance for the full year as the company completed its merger with gas utility BG. Shares were 1.5 percent higher in early trade on Thursday.